Recent Home Living Property Culture The Team
Recent Home Living Property Culture The Team
Property

A 'NORMAL' MARKET

18-Oct-2017
Written by Matthew Bourn
With spring now upon us, if the history books are anything to go by, the next 3 months will see the market swing into top gear until Christmas.

With media reports saying that the peak of the market is well behind us, it would appear buyers are grasping onto this commentary. Comments like "the market's dropping", "interest rates are rising" and "obtaining funding is getting harder, especially from offshore" are flowing readily and freely. Whilst some of this may have some merit, fundamentally Sydney has a property shortage and that is not going to change any time soon.

The interesting thing is that for two years now we have been witnessing lower and lower stock levels. However, looking back to the highs in the market in 2007 and 2010, it would appear that our current sales and stock volumes are now back in line with those years. From May 2014 to May 2016 we saw the sales volumes on the rise with property sales almost doubling in those 2 years. As such, the current levels of stock and sales volumes are now at a 'normal' level.


Our advice:
1. Buy and sell in the same market. If selling first, consider negotiating a longer settlement giving you time to re-purchase.
2. Be prepared to sell at a normalised market level as the hidden premium in the market may not necessarily be as easy to get.
3. When selling, preparation and presentation is key. Set yourself apart in what can be a crowded market.
4. Don't skimp on marketing. One additional buyer can have a large impact on the eventual sale price and you just don't know where that buyer may appear from.
5. Quality photography and video are a key component to the campaign. Research who is doing this the best.

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